Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Tuesday, July 22, 2008

karma

I'm a little worried about my Fly trolling Karma....

I swear that is just this joke put on by some Ibank, they get everyone to invest in the top of every trend.

6 comments:

tradewell said...

You don't think the Fly really posts his trades in real time?

Eric said...

I think, he is some shill Investment banker, trying to sucker people to play the parabolic part of every cyclical move. Then ride them to a loss.

Watch gold go 1000 and he will jump on.

he got mad at me for trolling him today..

Eric said...

How are you today?

tradewell said...

I can't imagine a real investment banker spending so much time blogging. He must have 6 arms :)

I followed FXP on Fly's rec. It didn't work out well due to the timing. Wish I followed the technicals on that trade. Ever since then I don't take tips from blogs. Not bitter, but I'd rather just blame myself for stupidity, it's more productive that way.

Put in a couple of orders this morning and left, had an appointment. Came back - all orders filled.

Sort of regret this autopilot. My absentee orders always get just part of the move, as I'm trying to stay on the safe side.

You said $120 for oil will be the bottom. Possibly. $125 level is very strong, though.

For gold $850 is the ultimate floor.

tradewell said...

Oh by the way, dollar is at major resistance now. If it goes much higher, beware of the trap.

Eric said...

I say the 120-123 level is still the Secular trend on oil. I'd predict that it comes down to that level, and gets some support for a week or so...

After that? who knows.

The talk on Fanny/freddy and the dollar is.... I'd say it's overdone, It's Peter Schiff hyperbole.

If fanny freddy go bankrupt, that would be very dollar bearish, because we risk economic collapse.

but... if we bail them out.... I just think that is overdone, as far as risk to the dollar.
You can almost say it's cooked in.

I'd suggest that the dollar isn't clear till it gets below 1.55 dollar euro, which is a 50% retrace of the last move....

If you are looking at the trend line We actually broke the downtrend dollar euro today. if we get to 1.56 One could call a double top.

for more bearish dollar action, we will need to see Action... Like another rate cut, or ... an the treasury actually pumping money into fanny/freddy.

I saw the Jim rodgers thing, and ... That guy... you do know he has said some crazy shit before.

I'll agree that there is Inflation, but it's Secular inflation, and not cyclical... Meaning, we deal with it next year.

but... 850-840 sounds about right. for and ultimate low in gold. If the market takes a rocket shot, it could go as low as 750.

I was a dollar bear a year ago, But there are so many dollar bears.... it's hard for "contrarian me", to be on that side...

Europe is seeing economic slow down, and asia is too... that will help to moderate inflation...

Though inflation's is much higher than 3-6%.. but it has been since 1990.

I lean Bearish on oil... I think most likely it has found it's high for the year... but... Maybe it comes down to 100 then back up to 130 and scares the crap out of us again, which will setup as a bull trap.

New Economic Indicators and Releases

What does Blue Horse shoe love?- Blog search of "BHL"

cnbc